Maplebear (NASDAQ:CART) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Maplebear (NASDAQ:CART) in a research note published on Tuesday, Benzinga reports.

CART has been the subject of several other research reports. Loop Capital started coverage on Maplebear in a report on Friday, April 19th. They set a buy rating and a $46.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Maplebear from $35.00 to $45.00 and gave the company an overweight rating in a report on Monday, March 25th. Moffett Nathanson reissued a neutral rating and set a $37.00 price target (up previously from $36.00) on shares of Maplebear in a report on Thursday, April 11th. Macquarie began coverage on Maplebear in a report on Monday, March 25th. They set an outperform rating and a $42.00 price target for the company. Finally, Sanford C. Bernstein raised Maplebear from a market perform rating to an outperform rating and upped their price objective for the stock from $30.00 to $43.00 in a research note on Thursday, March 14th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $38.16.

Maplebear Trading Up 0.4 %

Maplebear stock opened at $34.69 on Tuesday. Maplebear has a one year low of $22.13 and a one year high of $42.95. The stock has a fifty day moving average of $35.17 and a 200 day moving average of $28.52.

Maplebear (NASDAQ:CART) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.52. The firm had revenue of $803.00 million for the quarter, compared to analysts’ expectations of $804.62 million. The company’s revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Maplebear will post 0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Maplebear

In other Maplebear news, CFO Nick Giovanni sold 900 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $35.00, for a total transaction of $31,500.00. Following the sale, the chief financial officer now directly owns 591,077 shares in the company, valued at $20,687,695. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Nick Giovanni sold 900 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $35.00, for a total value of $31,500.00. Following the sale, the chief financial officer now directly owns 591,077 shares in the company, valued at $20,687,695. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Morgan Fong sold 18,687 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $34.86, for a total value of $651,428.82. Following the completion of the sale, the general counsel now owns 418,973 shares in the company, valued at $14,605,398.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 2,157,745 shares of company stock worth $61,771,955 and have sold 1,027,279 shares worth $29,422,416. Company insiders own 4.02% of the company’s stock.

Institutional Investors Weigh In On Maplebear

Several hedge funds and other institutional investors have recently modified their holdings of CART. Parallel Advisors LLC raised its holdings in shares of Maplebear by 139.3% in the fourth quarter. Parallel Advisors LLC now owns 1,065 shares of the company’s stock worth $25,000 after buying an additional 620 shares during the period. Signaturefd LLC purchased a new stake in shares of Maplebear in the third quarter worth approximately $30,000. Cantor Fitzgerald L. P. increased its holdings in Maplebear by 389.5% during the 4th quarter. Cantor Fitzgerald L. P. now owns 1,850 shares of the company’s stock worth $43,000 after purchasing an additional 2,489 shares during the period. Kapitalo Investimentos Ltda purchased a new position in Maplebear during the 4th quarter worth $69,000. Finally, Amalgamated Bank purchased a new position in Maplebear during the 4th quarter worth $94,000. 63.09% of the stock is currently owned by hedge funds and other institutional investors.

Maplebear Company Profile

Maplebear Inc, doing business as Instacart, provides online grocery shopping services to households in North America. It sells and delivers grocery products. The company offers its services through a mobile application and website. It also provides software-as-a-service solutions to retailers. The company was incorporated in 2012 and is based in San Francisco, California.